Fuente: Bloomberg
China´s second monthly decline in cotton imports will erode supply in the world´s biggest consumer and bolster prices for immediate delivery, said Dong Shuzhi, assistant general manager at Jinshi Futures Co.Inbound shipments of the fiber tumbled 11 percent to 177,213 metric tons in June from about 200,000 tons in May and 320,000 tons in April, according to customs today. The country imported 1.54 million tons this year, Bloomberg Data show."The decline in imports was because the additional quota was issued and distributed only in late May and June, so there´s not enough time for imports to come in," Dong said by phone from Urumqi, Xinjiang province today. "We estimate imports will rebound to 250,000300,000 tons a month in July and August."Prices for immediate delivery will be supported by tight supply, leading to a prolonged backwardation, or a situation where supplies for nearby months trade at a higher price than for later delivery, Dong said. Backwardation occurs when demand growth is strong and inventories are low.The spread between the September and January contracts on the Zhengzhou Commodity Exchange widened to 2,190 yuan (323) a ton today from about 1,370 yuan a month ago, according to Bloomberg Data.China will raise its import quota for the fiber by almost 1 million tons and sell more from stockpiles to relieve a shortfall, according to the China Cotton Association on June 25.The State Council has approved additional import quotas, bringing the total for 2010 to about 3.6 million tons, the association said. The government also approved a plan to sell 600,000 tons from inventories, and was "waiting for an opportune time to release the supplies," it said.

Fuente: Bloomberg - New York - New York - EE.UU.